What are your guys' take on Ray Dalio's recent post on LinkedIn in which he states the current economic machine is broken?
To try to summarize his points,
1) Money is abundant and free-flowing for institutions and asset managers which has pushed valuations up.
2) Govt. deficits around the world and esp. for the world's reserve currencies are increasing and will continue to increase while the Feds will buy the debt and essential print money.
3) For multiple reasons, wealth inequality is widening as "trickle-down" theory seems not to be trickling down.
It seems a bit dramatic and that he may be calling something broken that could be in the future but isn't quite broken yet. But the points nonetheless are interesting and are coming from a reputable Macro investor. Thoughts?
prays to the Lord of QE
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